VTB shares fell to an all-time low following the blows to Wildberries and Ozon
Shares of the Russian state-owned bank VTB fell to an all-time low of 49.86 rubles per share. For the first time in history, their value dropped below par value. One of the reasons for the decline was the impact of Ukrainian drone strikes on the Wildberries and Ozon marketplaces, with which the bank has financial ties.
By the end of Wednesday, shares of Russia’s second-largest bank by assets had fallen by 3%. Since the beginning of August, the decline has been 11%, and since the beginning of 2026, it has already reached 45%.
Compared to its 2015 peak, VTB has lost 88% of its market capitalization, or about 4.7 trillion rubles.
Currently, the bank—with 35 trillion rubles in assets and 8.5 trillion rubles in retail deposits—is valued at just 646 billion rubles, or approximately $7.7 billion.
The situation for the bank is complicated by financial obligations related to Russia’s largest marketplaces, according to analysts at Solid Investments.
In late May, VTB announced a strategic partnership with Wildberries. A few months later, the marketplace became a target for Ukrainian drones. According to data cited in the article, the company lost a third of its warehouse capacity, and direct losses were estimated at several hundred billion rubles.
The bank also has financial ties to Ozon. The company received a stake in the marketplace as collateral for a loan from AFK “Sistema,” one of Ozon’s major shareholders.
At the same time, Ozon’s stock has plummeted by 45% since the beginning of the summer. Against this backdrop, analysts estimate that VTB may face the need to extend a credit line to the affected company.
The Russian state-owned bank’s problems began even before the latest attacks on the marketplaces’ infrastructure.
Last year, VTB faced a rise in loan defaults. The share of non-performing assets on the bank’s balance sheet increased 1.5-fold—to 14.2%, which is about one-third higher than the average for the Russian banking system.
In the first half of 2026, VTB’s profit fell by 20% to 225.2 billion rubles. In the second quarter, the decline reached 34%.
Under IFRS standards, the bank increased its provisions for non-performing loans by nearly one-third—to 66.5 billion rubles for the quarter.
At the same time, its free capital buffer fell to a near-critical level—10.7%, compared with the minimum acceptable threshold of 10%.
In late July, VTB Deputy Chairman Dmitry Pyanov announced upcoming layoffs.
According to him, the bank plans to lay off about 10% of its headquarters staff to cut costs.
Thus, the decline in VTB’s stock price is occurring against the backdrop of a simultaneous deterioration in financial metrics, a rise in non-performing loans, and risks associated with large corporate borrowers.
This was reported by The Moscow Times.
Since the beginning of 2026, Ukrainian drones and long-range missiles have damaged at least 28 of approximately 48 Russian oil refineries, according to estimates by French OSINT analyst Clément Molin. In total, he recorded 81 strikes on refineries, with 17 of Russia’s 20 largest refineries having been targeted.
The NORSI (Nizhegorodnefteorgsintez) refinery, which ranks fourth in Russia in terms of oil refining capacity and second in gasoline production, suspended operations following an attack by Ukrainian drones.
